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March 27, 2002

Hellespont to name ULCC's

Piraeus-based Hellespont Shipping Corp will name the first of its series of four unique double-hull ulccs at a ceremony in Dubai on April 3, 2002. The 442,000 dwt vessel will be named Hellespont Alhambra.

Basil Papachristidis, chairman of the Hellespont Group, says, We are proud to set new standards with these ships. The Hellespont Alhambra is the largest double hull tanker ever built. She sets new benchmarks for safety, longevity, commercial flexibility and ease of maintenance. And she extends frontiers of efficiency and economy in the ocean transportation of oil.

The series will continue with the Hellespont Metropolis, to be delivered in April, and two sister ships, the Hellespont Fairfax and the Hellespont Tara, both to be delivered in the second half of 2002. Built at Korea's Daewoo yard to LR and ABS class, the vessels elevate standards for large tanker strength and speed and will have a number of unusual features, including full-time inerting of the ballast spaces for safety and corrosion protection and a white paint system to protect internal coatings.